China’s Huawei says sales down but new ventures growing

Published August 12, 2022 2:04 AM

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Chinese tech giant Huawei says its revenue fell in the first half of 2022 but new ventures in autos and industrial technology helped to offset a decline in smartphone sales under U.S. sanctions. Huawei Technologies Ltd. is the biggest global maker of network gear for phone and internet carriers. It has struggled since then-President Donald Trump blocked access to U.S. processor chips and other technology in 2019. The company denies American accusations it is a security risk and might facilitate Chinese spying. Huawei has stepped up development of network technology for autos, hospitals, mines and manufacturing. It says that is now less vulnerable to U.S. sanctions.

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